Pensionfund Sabic Trims Holdings in Costco Wholesale Corporation $COST

Key Points

• Pensionfund Sabic reduced its stake in Costco Wholesale Corporation by 18.8% in the first quarter, now holding 3,900 shares worth approximately $3.7 million, making it the 19th largest position in their portfolio.
• Several institutional investors have recently modified their holdings in Costco, with 68.48% of the stock owned by hedge funds and other institutional investors.
• Costco announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 0.5%, with a payout ratio of 29.5% as of the last reporting period.

Pensionfund Sabic trimmed its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,900 shares of the retailer's stock after selling 900 shares during the quarter. Costco Wholesale comprises 1.1% of Pensionfund Sabic's holdings, making the stock its 19th largest position. Pensionfund Sabic's holdings in Costco Wholesale were worth $3,689,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of COST. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the fourth quarter worth about $25,000. Anderson Financial Strategies LLC grew its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after acquiring an additional 36 shares during the period. eCIO Inc. acquired a new stake in Costco Wholesale during the first quarter worth about $48,000. Aspect Partners LLC grew its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in Costco Wholesale during the fourth quarter worth about $58,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COST has been the topic of several analyst reports. Evercore ISI dropped their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Truist Financial raised their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Morgan Stanley raised their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,056.67.

Insiders Place Their Bets

In other news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,147 shares of company stock worth $5,031,130. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Performance

Shares of COST stock opened at $967.90 on Friday. The company has a market capitalization of $429.24 billion, a P/E ratio of 54.90, a P/E/G ratio of 5.43 and a beta of 0.97. The business's 50 day moving average is $960.40 and its two-hundred day moving average is $975.04. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's dividend payout ratio is currently 29.50%.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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